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Latvia’s DelfinGroup offers existing bondholders exchange opportunity
Chicago, Nov. 6 – DelfinGroup AS is offering existing bondholders with notes due Nov. 25, 2023 (ISIN: LV0000802536) an opportunity to exchange their bonds for new floating-rate bonds, according to a notice.
The exchange period started Friday and runs through Nov. 21.
The original issue size was €10 million. The bonds carried an 8% coupon and were issued in 2021, according to a previous listing notice.
Exchanging holders will receive a 1% fee. The new notes due Nov. 25, 2026 will have a Euribor plus 900 basis points coupon (ISIN: LV0000860146), with monthly payments.
The minimum exchange amount is €100,000.
Signet Bank AS is in charge or the exchange offer and a concurrent new notes issue.
The exchange notes will be consolidated with the concurrent offering. The new notes are being sold to investors in a private placement, but with the intention of placing the notes on Nasdaq First North for trading.
DelfinGroup AS is a Latvian-based consumer lending company.
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